Hindustan Petroleum Corp (HPCL) will ink pact with Mumbai-based infrastructure major Shapoorji Pallonji by signing a joint venture agreement to establish a terminal for import of liquid gas (LNG) on the Gujarat coast. It will be investing about Rs 5,000 crore for the same. The company will set up the LNG import terminal through a 50:50 joint venture with SP Ports, a unit of Shapoorji Pallonji group.
Currently, HPCL and SP Ports are carrying out a detailed feasibility study for establishing technical and commercial viability of setting up an LNG import and regasification terminal of 5 million tonnes per annum capacity at the proposed Port.
